MSME sector has enormous potential for growth in the coming years while eradicating poverty & unemployment, which is the biggest enemy of this nation. However, this sector is still hampered by different problems. Explain.
Approach of the Answer
- Introduction: Write about the role of MSME in Indian Economy.
- Body: Write the problems faced by MSME’S in India.
- Conclusion: Conclude with a Way Forward
Answer
- The MSME sector plays a significant role in the Indian economy. MSMEs are complementary to large industries as ancillary units and this sector contributes enormously to the socio-economic development of the country. The sector makes up about 45% of the country’s total manufacturing output, 40% of its exports, almost 30% of GDP, and employs an estimated 11 crore persons
- Recently government announced a ₹20-lakh crore economic relief package titled Atmanirbhar Bharat Abhiyan. ....
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